That's one of the good news for the crypto currency world, now a days there's a lot of scammers and hackers that create's fake and scam coins, I hope the government of each country who support digital currency will act against this fraud maker people, following the great example of Switzerland who protects it's people from being scammed and worst, being your business, firm and entities bankrupt
I haven't heard about e-coin but I hope it didn't affect anyone else in Switzerland. Yes, its good to hear that the government of Switzerland has made efforts to guarantee safety for its citizens and cryptocurrency users. These days there are a lot of shit coins and scams so we should all be cautious. Switzerland is setting a good example and hopefully the other countries would do the same. Instead of just banning Bitcoin and cryptocurrency totally, actions like this should be done instead. The government of my country has made a public statement for the bitcoin users to be cautious of the use of cryptocurrency and to be wary of scams. |
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I owe about $50K on my mortgage. Should I throw 15BTC at it and be done, or keep paying the minimum and HODL the coin as an investment? 15BTC is <20% of my holdings that I purchased at $250/coin back in 2015, by the way. Thanks in advance!
The sane decision would be to get rid of your mortgage. After all you made a good profit either way. Nonetheless I'm convinced that BTC still has a great future ahead, so I'd probably try to find a middle ground by selling only part of my coins. For what it's worth keeping even just 1 or 2 BTC may be worth a little fortune at one point. Either way, you gotta figure out what works best for you, both financially and mentally. If you're financially stable and know that you can handle another 50% drop without feeling the urge to panic sell, hodling may be preferable. If you're just barely able to pay your mortgage and even the thought of the next drop makes you uneasy you should probably sell some. Having a debt that huge is overwhelming and to wait for several years before fully paying it off would be such a headache. I would have a hard time sleeping at night knowing that I have a debt and that I'd have to pay for years to come. So that you'd have your peace of mind, I think its worth to already pay off that debt. I agree that it would seem like a waste to throw that 15BTC but in fairness, you've already profited from it. To be able to hold it that long is already amazing and surely, it has accrued since then. As a firm believer that future is bright for Bitcoin, keeping 1BTC or 2 would be ideal for long term investment. |
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It's actually good news when exchanges get legitimated with regulations and licenses. I don't know why so much people hate on this. If you are going to have people buying BTC using the legacy system, at least let's make it the right way so the owners of the exchanges can't scam people trying to buy BTC. I think the next step is for China to do the same, and China will be back once again with regulated exchanges and the price will pump to $5000, but if they don't ,we don really need them, we can pump to $5000+ without chinese exchanges taking part. Yes. So long as the Chinese government leave the mines in peace, bitcoin should do just fine without their exchanges. Besides, a lot of people there felt the bite. Imagine the beginners who left some money in those exchanges and are now having a hard time getting em out. IMHO, other countries should follow Japan's example to make those who want to buy bitcoins can do so safely. Theres no doubt they would really follow this trend for sure.Who would be the next country would do this thing.This is indeed a good news because exchanges now are regulated and its good to avoid scam made by exchanges. Hopefully, the other countries would follow the same suit. It would be nice for the other countries to do the same so as to provide convenience for the bitcoin users and traders worldwide. So far, Japan has known to be very open and Bitcoin friendly. They have done efforts to adopt Bitcoin and cryptocurrency thus having a very healthy Bitcoin environment in their country. I get that Japan had to make some regulations for the exchanges, it was just a way for them to protect the users. |
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I'm still new to the bitcoin universe. I was wondering what are the advantages for an hacker to get ransom or get paid in bitcoins? Like the WannaCry guys did. Can't they be tracked ?
Bitcoin involves no government issueing of money and hackers can easily launder bitcoins..if they were to accept fiat then they could be hunted down easily by government bodies. Moreover Bitcoin is fast to transact. Bitcoin has been a tool for money laundering which makes it suitable for ransom money. I guess that the hackers would prefer it because it won't be easily tracked plus there's no hassle of going through identifications. Government agencies have ways to easily track down cash but with Bitcoin, I think that they're still unfamiliar with it. Its fast and easy to use so hackers would definitely opt for the use of it. Also, Bitcoin is not tangible unlike with fiat money. |
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Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
I especially find it very funny how news works, especially when it comes to bitcoin. It's a very common trend to see this exact path of news articles: 1) When bitcoin drops, the negatives of bitcoin is highlighted in articles. More articles come out saying that bitcoin is in a bubble, that it's going to fail, and that it's worth nothing. These types of articles are highlighted even though people say this stuff all the time, regardless of how bitcoin is doing. 2) When bitcoin goes up, there are articles that talk about how it's the future and how blockchain technology can change the world, etc. News companies are so confused by BTC's volatility that they just can't stick to one side of supporting or opposing it. That is quite true. Whenever the bitcoin price falls, numerous negative and false news come along with it. There are a lot who say bad things about bitcoin on a normal basis. It as if whenever the bitcoin price experiences a drastic change, the news would follow suit. These news may or may not have an effect on the bitcoin price but because of its volatility, its bound to go up and down. From what I heard, China has a lot of bitcoin users in its country so I'm guessing that they have some influence over bitcoin but there's a lot more that influence bitcoin. China's influence may have turned out to be insignificant now because of the other dominant factors that are at play, such as the speculators and whales. |
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I think that the merchants just wanted to provide more options and opportunities for the bitcoin users and owners. I think this is convenient when a time comes that they have no fiat money to spare, and they would have to resort to using BTC.
But I'd have to agree with you OP because I myself also would prefer to keep and hold my bitcoins. Definitely currency is not the primacy purpose of Bitcoin. There has been numerous times that I've been tempted to exchange my BTC to fiat money so that I may spend on other things but I would remind myself that it is better not to but to just keep my BTC and wait. Patience is a virtue and waiting for the right time to sell is very difficult.
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The price volatility of Bitcoin is both an advantage and disadvantage to the receiver if BTC were to be accepted as a form of payment because at one point, the value of the BTC may become higher or lower in the future. Other advantages to it would be the ease of transaction which is easier as compared to fiat. Also, taxes will not be imposed however there are transaction fees. A good advantage to having BTC as a payment is the potential of it to increase in value in the future if you were to store it in a secure wallet.
I would prefer to receive BTC however another downside to this is that there's not much option for me to use it and I may not spend it for daily necessities and the like unless I were to exchange it into fiat money.
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I just invested in my first ico, Blackmoon ico. What happens now? I'm looking to make a quick flip. What do I do with the Blackmoon tokens?
Waiting till the ICO is over is the only thing that you can really do right now because you purchased the coin during the time they had terms that they will release the coin at a later date. If you have some money on the side then you could invest in another coin like Ethereum or Litecoin if you want to make some money if the price of Bitcoin goes up. You can also purchase Bitcoin by itself and you could make money just by doing that. There would be much less of a risk when you just purchase Bitcoin. Waiting really is the only thing left you could do after making an investment. Other than waiting, one may also make efforts to promote the ICO. You could join the bounty and social media campaigns for your ICO till it finishes. There are many ICOs that provide these kind of campaigns found here in the forum which helps in promoting their token sale. As an investor, one may help by exercising all efforts for the success of the project they have invested in so that once it becomes a success, their investment would become fruitful. |
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I see a lot of people that do not bother to read the paper,
I try to do max due deligence before buying any coin.
What about you?
I am pretty conservative when it comes to ICOs and feel 99% of them are little more than outright scams. Sure they make short-term money due to speculation, but so do Ponzi schemes which most of these ICOs basically are. For the couple of ICOs that I do think might be legit and I have invested in, yes I not only read the whitepaper but take time to research the team or company as much as possible. Do they actually have a marketable idea or plan that has value? Does this idea or plan benefit or is hurt by making an ICO? Is the ICO capped and are the funds they are asking for in-line with the project? Questions like these I ask myself before jumping in and risking my money. Once I do decide to buy into an ICO, I also am in no hurry to cash out and look at any investments as just that a long term investment in a great company or idea. Too many people simply buy in to cash out the second it hits an exchange for a little profit. While I do take advantage of any very profitable opportunities, say the value goes up 10x I will cash out my initial investment and let the rest ride, I still am in it for the long haul and not just the 2-3 months. If an idea is really viable and sound, there is no reason it cannot return 100x over time. To answer your question OP, yes I do read the whitepaper whenever I take interest in an ICO. I think that its important, along with checking out its other elements. I check on the feasibility of the project and its purpose because these are key determinants of the project's success. With the numerous ICOs out there, it really is hard to identify and fish out which are the ones that are scams. Most may have impressive looking teams and websites when in reality, they're just scams fishing out for investors. It's important to research thoroughly before putting your money in anything, so as to avoid losing it. The risk is high and every investor should put some thought on where they put their money. |
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It largely depends on how each government in its respective country looks at Bitcoin. In my country Bitcoin isn't a currency, but a means of exchange.
And that's where things are getting a bit tricky. I am not exactly sure in what category a Bitcoin related gambling site fits, but if they register themselves in my country as gambling site, then it shouldn't be a problem I guess.
Not that long ago, sites as bwin, bet365, ladbrokes, and the list goes on, have been prohibited from operating here because they were not willing to register themselves here and pay the tax rate that all local gambling sites have to pay.
I agree that it would depend on the legal view of Bitcoin in the certain country. In my country, Bitcoin is also not recognized as a currency but rather as 'property'. With this kind of view, Bitcoin does not have any legal tender. From this I could not deduce what the stand of my country is with regards to online gambling sites, although it is regulated for fiat online gambling sites. It may be legal because technically Bitcoin is legal to use in my country. This could be the same situation in other countries because most jurisdictions do not specify on the legality of online gambling sites. |
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The nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand that cryptocurrencies is a better form of money because they are governed by code alone, which makes the contract digital sacrosanct
There are internal power struggles in the crypto space too, there's no denying it. Bitcoin is the biggest cryptocurrency and arguably it's already fallen pray to speculators and developers that are more after personal gain other than integrity of the code base and the overall good of the ecosystem. Thankfully community outcry prevents major mishaps from taking place but it's not that of a great way to do damage control. Yup, sounds a bit sad. But then again it's all that speculating that drove the price up. I know whales just pump and dump their holdings but hopefully, there'll be a large enough of supply split between small users. Politics can be found anywhere and as decentralized as Bitcoin is - politics may still be found in it. There will always be attempts to have some control over power thus the presence of whales and speculators. It's the sad reality but its quite true that someone behind the scenes have been pulling some strings. They are motivated by personal gain and they continue to do so to their advantage. I think that the mass number of bitcoin users would still be able to have some liberty to use their bitcoin despite these political roadblocks. Bitcoin continues to prevail as a cryptocurrency. |
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China and JP Morgan just playing classic strategy on bitcoin. Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before. lol... Classic business strategy.   This sounds quite like some conspiracy theory and in real life it's a bit more complicated than that. For example, governments like China and Banks like JP Morgan operate with billions of dollars, so it doesn't make much sense for them to manipulate smaller market, since it's not that much profitable. Also, if someone will find out they are involved in Bitcoin directly, it may hurt their business/economy, since many people think about Bitcoin as a hedge against fiat. But it's certain that information about exchange closure has leaked to some traders before it was announced publicly, so some traders where able to profit from shorting Bitcoin. But with Bitcoin anything is possible, may governments and banks already own some significant sums just to be ready in case it will become global currency. I think so too because I big companies such as JP Morgan are far from doing such things just to manipulate the market and creating such as statement would reflect their view on crypto and Bitcoin as a company. Creating such a statement would affect their investors and I don't think making such a bold move was just so that the bitcoin price would go down, and the same goes with the China government. However, the creation of conspiracy theories such as this are not far from true. The various false news that were spreading back then had created fear and made the others sell their coins. We shouldn't be butt hurt whenever bad news such as these continue to pop up because others will continue to say bad things about Bitcoin, whether they want to control the market or not. We just have to continue to become faithful and resilient as bitcoin users. |
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Ever since I've been involved with cryptos, I spent a considerable amount of time each day reading up the news and updates on it. It became an addition to my daily routine because I spend at least an hour or so every day reading on some news. I frequently check the price charts and check out what's going on in the rest of the world. Also, since crypto has allowed me to manage my finances, it has made me become considerate of my daily expenses and financial decisions.
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I think the ban is covering only ICOs that will be held in china. It does not cover other ICOs that are not happening in china. And because there is internet there, I guess the chinese can still invest in ICOs through sites that are hopefully not banned in this country. ICOs are offered in different ICO sites and the websites of the projects themselves. They might still find a way out of this.
I initially thought that ICO ban refers to all ICOs and that all the Chinese citizens would have restricted access. From what I heard, China's internet is very regulated to the point that you can't even use google because China has their own google. With the huge number of crypto and bitcoin users in China, surely they would find a way to invest in ICOs despite the ban. If the government refuses to make any changes on their regulations and ICO ban, then VPNs would come to the rescue. |
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My parent , especially my mom , she always tell me to stop doing bitcoin otherwise i will go to jail or doing bad things to social ! I don't get it ! Old generation seem very lack of experience in Bitcoin ! Why they keep telling us to stop when they even don't know how to check a simple email on ebay ! How to explain them guys ?
She's just being what moms always do - be protective of their children. Surely, she and your other family members just wanted what is best for you which is for you to be safe. The old generation have a harder time in grasping new things such as cryptocurrency and Bitcoin, as it is "hard to teach an old dog new tricks". Their lack of trust and knowledge on Bitcoin makes them skeptical of it, and they probably think that it is illegal or soon will be. Perhaps a bit of convincing would create a change of heart, it would be best to show them the benefits and potential of Bitcoin and crypto. |
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I think its not that huge supply of bitcoin own in my country (Philippines) maybe a 2% is great but that is just based on my speculation. I know that the first adopters of bitcoin are the one who have huge supply of coins they own right now and I don't think Philippines is one of those country to first adopt to it.
But if others might have known it before it implemented,, then they are probably the large investors and the early birds bitcoin enthusiast to know bitcoin in the crypto world.
Judging from the people I know who own bitcoin in my country and taking into account the rest of the citizens present within the bitcoin community, I would have to agree that a rough estimate of 2% has acquired coins in the Philippines. Its a small number because Bitcoin is not that mainstream in the country and majority do not know about it yet. I know of someone who bought Bitcoin back when it had such a low price and have it stored in a secure wallet up to now. Surely, those who were able to buy bitcoin back the, were able to acquire and store a huge sum of the coins. |
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What do you guys think about this?
No association. No formality. No governing body. No central control. It all would go against the foundation tenets of Bitcoin. The trade off for that freedom is that there is no single message to refute the FUD or bad press. That's OK. It's the individual adoption of each us that stands up against the negative press. Our individual action gives the community strength. This is the answer I would have said also. Anyway, no need to do that apparently. Trying to put bitcoin in a box is a step backward from the original vision of the great Satoshi Nakamoto. Bitcoin became famous and trusted as it is right now. Why try to disrupt the growth with an association? That is trying to reshape bitcoin, which is not good at all. I had the same thoughts while I was reading the OP - that creating an association would defeat the purpose of Bitcoin's decentralization. Some people have invested and used Bitcoin precisely for this reason, because it is decentralized. The creation of an association allow a group of individuals to control and regulate Bitcoin. Bitcoin's "mysteriousness" is a reason why some people choose to buy it. I don't think it needs a "positive association" for it to attract more users and investors, but the different characteristics it has simply makes it worth investing. Maybe you're looking at wrong place because I've been seeing publications that are both good and bad - in fact, Bitcoin's popularity has been continually increasing. |
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If youre an open minded person all that happenings on bitcoin and the rumors are all lie. Dont be fooled by those fudders.
If you believe in bitcoin the best way to do in this time of fud is to hold your bitcoin.
I agree, that's the most safest way if more rumors are to come connected with China and all that. And some are not even affected anymore with these news coming. I myself am getting ready and would still not really mind about these news whether they are true or not, I'd still hold my bitcoins despite the negative news. We just have to be aware and on the look out for the fake news and rumors out there because it may fool those who believe easily anything they hear. Ever since the news regarding China's ICO ban came out, a lot of other fake news came out along with it. Surely, it has affected some and created some fear and panic for bitcoin users which made them sell it impulsively. The strong believers of Bitcoin continue to hold it despite news like this keep on spreading, they continue to have strong faith and won't anything discourage them. |
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Admittedly, I'm one of the majority of the people in this forum who is here for the profit. I don't see anything wrong with having it as a motivation although the others choose to use Bitcoin because it is decentralized and that it provides independence from the government; some have more noble purposes such as wanting to help the poor through the use of Bitcoin. True enough, rumors and theories that bitcoin is a bubble have been popping up here and there. Most of the bitcoin users remain strong and have great faith in the future of bitcoin.
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